Hello fellow MineCoinians,

      I am a true believer in the pure and honest morality of freedom and even though I am fairly new to the crypto-currency community, for this reason I am very excited about the ultimate potential of the Bitcoin ideology. Though I hold no religious theology as true and absolute, I do believe that man has, over the eons, collected a great deal of wisdom and that wisdom is most of often found in the various religious text of history. One of the most quoted religious phrases from the hebrew and christian bible is that 'money is the root of all evil.' You most likely have heard this phrase many times before, but that phrase does not exist. What is actually written is that 'the LOVE of money is the root of all evil.' It is this fragment of ancestrial wisdom that I wish to bring to lite so as to address the logic behind my assertion. Decentralization, the very foundation of the Bitcoin ideology, is at serious risk of annialation.

      First and foremost I want to be honest about what brought me to this moment in my life. I am a college student studing for a double major (computer enginering and physics) and working towards an eventual PHD. Because of past mistakes I have serious financial trouble so holding a job wouldn't be worth it after creditors and uncle Sam take their cut from my paycheck. I was searching online for a way to make an income that would not take to much time away from my studies when I came across bitcointalk.org. I immediately downloaded and installed bitcoin-qt and the bitminter client and fired up my GTX690. After some days passed it became apparent that it was going to take awhile to make very much money at all so I started to research my options. This research of course revealed the world of FPGA mining rigs and the latest holy grail of miners... the ASICs rig. At that point I became very discouraged, not so much because FPGA and ASICs hardware was too expensive and out of reach, but that FPGA and ASICs hardware was too expensive and out of reach for me in my situation. This fact is the critical link that enduced my awarness of the major point I wish to make in this article.

     I did alot of brainstorming trying to figure out a way to improve my situation and I came to one inevitable conclusion, I cannot do it alone. The best option I could imagine was to set up a special mining pool just for raising funds to build/purchase an ASICs mining farm soley to provide all the mining participants in the pool with their own ASICs rigs. This is another key to my argument, as I conducted my research on mining pools I became highly aware of the negative impact that a scarce supply of ASIC mining hardware will have.

     There will always be disparity between classes in wealth, thats just the nature of life. Bitcoin mining has offered a more level playing field because with careful planing and proper financial structuring an individual could start a small mining venture and grow that effort and diligence into operating rigs that have a respectful hashrates. ASICs technology threatens the balance that has exists because it is disrupting the level playing field. Those who can afford to pay a premium to adopt ASICs hardware early have such a massive hashing advantage that even the advantages of the best FPGA setup will rapidly evaporate as difficulty level rise at an exponential rate. This leades the FPGA miners scrambling for extra FPGA units and trying to squeeze out every last drop of effency from their FPGA setup. The run on ASICs and FPGAs raises the prices and causes an increasingly diminished supply of ASICS and FPGA units.



     GPU miners tend to be the types of people that have limited resources, dual purposing by using their rigs for gaming and mining or are trying to earn enough coin to upgrade to better mining rigs. Humble GPU mining can still be (to an ever decreasing extent) vaible for some miners and a few short months ago had pretty decent hashrates but not for much longer. The GPU miners are rapidly being left out in the deep, cold emptiness of crypto-mining space with warp drives that are failing because of a quantum shift in the alternate laws of mining physics.

     These GPU miners are being further disparaged by the scarcity and rising prices of FPGA and new ASIC hardware. This furthers the class divide between GPU miners and those who can afford to pay a premium and adopt ASICs hardware early and FPGA miners who are able to keep up and eventually transition to ASICs hardware because GPU miners generally cannot afford or cannot aquire the hardware to upgrade. By the time the few remaining GPU miners are able to upgrade many of them may never be able to catch up because the hardware requirements to make mining feasible have continued to increase at an exponential rate without their participated. To further the STAR TREK analogy, these straggling GPU miners will be droped from the warp conduit simply because they ran out of antimatter while trying to catch up to bigger, faster and more advanced starships leaving them disparagingly adrift forever in the sameness of space as the the other GPU miners that preceded them.

     This is the type of situation that has historically given rise to desperate levels of poverty in ordinary societies, it is simple economics coupled with human self protectionism. A digital future is our worlds destiny and whether or not bitcoin will survive far into that future is irrelevant, but the conduct of the bitcoin community will greatly influence the nature of humanities destiny within that future and is instrumental in laying the foundation for what kind of society humanities future is built on. So how we, the bitcoin community, behave during this transitional shift has profound significance for the quality of life of future generations. The question I pose to you is this; are we, at this profound and criticle moment in history, going to perpetuate the blind sins of the past because of short sighted self preservationizm and greed or are we going to create a revolution in the human condition for the benifit of all of man.

     The core principle of Bitcoin ideology is the decentralization of currency, and for what pupose? We all know the answer to this question. It is because we all know the evil that men drunk with power will do to his very own blood let alone what he would do to you. But what do you think it means if crypto-coin mining becomes just another resource that only rich corporations can afford to harvest? How different do you think that this situation will be from the way things are now, or the way things have always been? Once a viable crypto-currency is embedded into a culture it becomes no different than any other essential resource and is subject to the same jurisdictions. If crypto-mining is only available to an elite group of wealthy individuals, then it becomes subject to the concerns of the elite. History shows us that elitist tend to be unfair, greedy self preservationist who are susceptible to and often the very architects of political pressure. Ask yourself this question and answer yourself honestly. If you had invested years of your life mining a substantial amount of bitcoin wealth and suddenly you find yourself faced with the decision to either protect the principles behind Bitcoins Ideology and loosing all the wealth you had worked so long to acquire or forsaking the ideology of Bitcoin and keeping all your acquired wealth, minus some taxes and fees, knowing that you'll likely live well the rest of your life, what would YOU do? Again, history shows what most people would do, its a simple matter of self preservationizm. This is why decentralization is so critical.
     
     I think we all agree that we do not want the situation to get to that point, but that is the course it is presently taking and only together can we stop this decent of such a noble endeavor. So what is it that we can do? In many respects the solution is simple in concept, its the execution thats more challenging. The hardest element to overcome is at the core of the human instinct to survive, and that is the instinct of self preservation. This instinct is of course very strong and because human beings are intellectual creatures this instinct is often triggered when our ideas or sense of self are in intellectual danger even though our bodies or lifes may not be. This is the major cause of human irrational behavior. So for the sole sake of logic it stands to reason that if smaller and smaller groups continue to control larger and larger portions of a finite pool of resources then you either must exponentially increase the quantity of the reasources or you must equalize the method of gathering the resources to a broader group of people. Fortunately in this case the resource is is a fabrication of man.

     So with that being said, lets open this up for discussion...  I release it to the floor...

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The bureaucratic mentality is the only constant in the universe.
-Dr. McCoy, Star Trek IV: The Voyage Home

This 29 year-old analyst just gave up his whole life -- his girlfriend, his job, and his home -- to blow the whistle on the US government's shocking PRISM program -- which has been reading and recording our emails, Skype messages, Facebook posts and phone calls for years.

When Bradley Manning passed this kind of data to Wikileaks, the US threw him naked into solitary confinement in conditions that the UN called "cruel, inhumane and degrading".

The authorities and press are deciding right now how to handle this scandal. If millions of us stand with Edward in the next 48 hours, it will send a powerful statement that he should be treated like the brave whistleblower that he is, and it should be PRISM, and not Edward, that the US cracks down on.

Please sign and spead the word:
https://secure.avaaz.org/en/stop_prism_global

A limit order is an order placed to wait and buy or sell only at a specific price, and it will sit there until a market order comes through that satisfies it.
A market order is an order to buy or sell at whatever price is acceptable right now, as per the available limit orders.
The set of unsatisfied limit orders at any given time is the "order book".

When an order occurs within an exchange, it has two sides; a market order which initiates one or more transactions, and one or more limit orders that are consumed to satisfy the whole of the market order.

Let's say that the current order book shows 25BTC available to buy @ $99.00, then 20BTC @ $99.10, then 130 @ $99.20, then 50 @ $99.30. This means the current buy price is $99.00 because I can buy bitcoins right now at $99.00. Now let's say I want to place a market order to buy 100BTC right now. To satisfy this order, I first buy up the 25 BTC inventory available at the $99.00 price point. Now that there are none left at that price, I need to buy at the next price point, $99.10. So far I've bought 45BTC of my 100BTC order. Now the cheapest remaining BTC in the order book are the 130BTC at the $99.20 price point, so I buy 55BTC of that, thus completing my market order, and leaving 75BTC still in the order book at the $99.20 price point. Given that that is now the cheapest available price for BTC in the order book, we can say that the price just changed from $99.00 to $99.20, hence the price moved up, as you would see at a glance.

Similarly, if I place a market order to sell, then I am consuming limit orders on the buy side, starting with those paying the highest rate, then the next highest rate and so on until my sell order is satisfied (i.e. my BTC are bought by the buyers who placed the limit orders to buy). Because I'm consuming limit orders that pay the highest price first, then they will no longer exist when I am done, and the next highest will be the best remaining price that anyone is willing to pay, so it can be said that I am driving the price downwards.

You will note of course that both of these (market orders to both buy and sell) can consume the available limit orders in both directions at the same time. That's where the "spread" comes in. It's the area between the highest "buy" price and the lowest "sell" price. If market orders are executed that consume all of the limit orders around a given price point, the spread grows. What happens next is that people who want to be the first to be chosen to be bought from or sold to then go and place new limit orders inside the spread area, thus closing the gap between the highest buy price and the lowest sell price. A healthy market generally has a low spread, as people exist who both want to buy and sell. If the market is falling, the spread will tend to be filled only with limit orders to sell, which pushes the spread area down towards lower price points. When the market is rising, the opposite happens.